S&P 500 Records Best Week Of The Year Amid Favorable Economic Reports: What Really Drove The Rally?
Portfolio Pulse from Bibhu Pattnaik
The S&P 500 had its best week of 2024, rising 3.9% due to favorable economic data, including lower inflation, increased retail sales, and decreased jobless claims. Analysts at Goldman Sachs remain optimistic about continued economic growth and decelerating inflation.
August 17, 2024 | 1:30 pm
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Goldman Sachs analysts expressed optimism about the US economy, predicting continued growth and decelerating inflation, which contributed to the positive sentiment in the stock market.
Goldman Sachs' positive outlook on the economy has likely contributed to the rally in the S&P 500, as their analysis is influential among investors.
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